Wall Street analysts predict that Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) will post $149.02 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Cogent Communications’ earnings. The highest sales estimate is $150.47 million and the lowest is $146.78 million. Cogent Communications posted sales of $146.78 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.5%. The firm is scheduled to announce its next earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Cogent Communications will report full year sales of $605.80 million for the current year, with estimates ranging from $589.79 million to $618.90 million. For the next year, analysts forecast that the company will post sales of $628.38 million, with estimates ranging from $600.34 million to $654.70 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Cogent Communications.
Cogent Communications (NASDAQ:CCOI – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The technology company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The firm had revenue of $147.20 million during the quarter, compared to analyst estimates of $149.14 million. Cogent Communications had a negative return on equity of 12.02% and a net margin of 8.17%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS.
Shares of Cogent Communications stock opened at $64.34 on Monday. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 62.47 and a beta of 0.23. Cogent Communications has a 52-week low of $57.23 and a 52-week high of $80.50. The stock has a 50-day simple moving average of $64.74 and a 200-day simple moving average of $69.37.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Wednesday, March 9th were given a dividend of $0.855 per share. The ex-dividend date was Tuesday, March 8th. This is a boost from Cogent Communications’s previous quarterly dividend of $0.83. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.32%. Cogent Communications’s payout ratio is currently 332.04%.
In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $62.94, for a total value of $120,844.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP John B. Chang sold 600 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $62.96, for a total value of $37,776.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,170 shares of company stock worth $201,846. 11.00% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in CCOI. NN Investment Partners Holdings N.V. bought a new stake in shares of Cogent Communications during the third quarter worth $34,000. Tyler Stone Wealth Management bought a new stake in Cogent Communications in the fourth quarter valued at about $51,000. Rosenberg Matthew Hamilton bought a new stake in Cogent Communications in the first quarter valued at about $53,000. Exchange Traded Concepts LLC bought a new stake in Cogent Communications in the fourth quarter valued at about $59,000. Finally, Huntington National Bank increased its holdings in Cogent Communications by 3,905.0% in the fourth quarter. Huntington National Bank now owns 801 shares of the technology company’s stock valued at $59,000 after purchasing an additional 781 shares during the last quarter. Institutional investors own 86.55% of the company’s stock.
Cogent Communications Company Profile (Get Rating)
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, Web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.
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